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Astra Microwave Products (532493) investor relations material
Astra Microwave Products Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 25/26 earnings summary13 Nov, 2025
Executive summary
Delivered strong Q2 and H1 FY26 performance with improved margins, robust order book, and strategic shift toward integrated solutions, supported by over 10 years of revenue growth and profitability.
Focused on defense, space, meteorology, and exports, with diversified offerings and strategic R&D and joint ventures driving innovation and global reach.
Standalone and consolidated unaudited financial results for Q2 and H1 FY26 were approved, with no material misstatements found by auditors.
Major deliveries included modules for key radar systems, successful execution of a significant refurbishment order, and participation in major defense and space programs.
Financial highlights
Standalone Q2 FY26 revenue: INR 213 crores; EBITDA: INR 46 crores (21.7% margin); PAT: INR 21 crores; H1 revenue: INR 410 crores, up 7.2% YoY; consolidated H1 revenue: INR 414 crores, up 7.7% YoY.
Standalone H1 FY26 EBITDA: INR 85 crores (20.6% margin), up 17%; PAT: INR 34 crores, up 14%; consolidated EBITDA: INR 89 crores (21.2% margin); PAT: INR 40 crores, up 23.3%.
Gross profit margin improved to 46.9% (standalone) and 48.8% (consolidated) in H1 FY26; gross margins improved by 1,000 bps YoY for Q2.
Standalone and consolidated cash and cash equivalents increased significantly to Rs. 9,726.59 lakhs and Rs. 10,147.94 lakhs as of September 30, 2025.
Q2FY26 saw a revenue decline of 6.9% (standalone) and 6.5% (consolidated) YoY.
Outlook and guidance
FY26 revenue guidance: INR 1,150–1,200 crores, with current gross and EBITDA margins expected to be maintained or slightly improved.
Management targets doubling turnover in 3–4 years, reaching INR 2,250–2,500 crores by FY30, and aspires to become a billion-dollar company in the longer term.
Targets 15–20% revenue growth over the next 3–5 years, with a focus on complex system fabrication and higher global market contribution.
Growth expected to be back-ended, with significant contributions from QR-SAM, Uttam Radars, Su-30 EW upgrades, and Virupaksha projects.
Gross margins for FY27–FY28 expected to remain at 45–50%, with a positive bias.
What is the revenue visibility from current order book?
What drove H1 2025 operating cash flow improvement?
What drove the reduction in current borrowings?
Detail execution plan for FY27-FY30 revenue
Outline European/NATO export strategy
Elaborate on space business growth strategy
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Next Astra Microwave Products earnings date
Q3 25/267 Feb, 2026
Next Astra Microwave Products earnings date
Q3 25/267 Feb, 2026
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Frequently asked questions
Astra Microwave Products Limited is an India-based company that designs, develops, and manufactures high-frequency microwave components and subsystems. The company's products are primarily used in defense, aerospace, and telecommunications sectors, supporting applications such as radar systems, satellite communication, and electronic warfare. The company is headquartered in Hyderabad, India, and its shares are listed on the National Stock Exchange of India.
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